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IBC Weekly Round-Up [24th March - 30th March 2025]
Petition Filed U/S 9 Of IBC Based On Arbitral Award Cannot Be Entertained After 3 Yrs From Date Of Award: NCLT Mumbai
Recall Application Filed By Shareholder Cannot Be Entertained When Director Who Pursued Earlier Proceedings Had Resigned: NCLAT
Third Parties Who Sold Land To Corporate Debtor Cannot Be Held Liable U/S 66 Of IBC: NCLT New Delhi
Accepting OTS Payments While Simultaneously Pursuing CIRP Proceedings Is An Attempt To Use IBC For Debt Recovery: NCLT Mumbai
Consent Terms Can Only Be Legally Enforced If Ratified By Court: NCLAT New Delhi
Liquidator Must Not Restrict Sale Of Corporate Debtor's Assets Through Private Sale To Single Buyer, Must Strategise To Attract Multiple Buyers: NCLT Mumbai
Corporate Debtor Not Barred From Raising Pre-Existing Dispute Even When No Reply Was Given To Demand Notice Within 10 Days U/S 8 Of IBC: NCLT Mumbai
Petition U/S 7 Of IBC Against Corporate Guarantor Cannot Be Admitted Unless Valid Delivery Of Guarantee Invocation Notice Is Established: NCLT Mumbai
All Claims Which Are Not Part Of Resolution Plan Shall Stand Extinguished, No Person Entitled To Initiate Any Proceedings Over Such Claims: Bombay HC
Google Abused Dominant Position Through Restrictive App Store Billing Policy But Didn't Deny Market Access: NCLAT Reduces Penalty From ₹936 Cr To ₹216 Cr
Any Default Falling Within Section 10-A Period Of IBC Must Be Excluded When Calculating Total Outstanding Debt: NCLT Hyderabad